Category: unemployed

HAGERSTOWN, Md. — Unemployment is down in Washington County and across Maryland, according to the Department of Labor, Licensing and Regulations. The latest statistics also show that Washington County has experienced one of the biggest decreases at almost .6 percent.

The new data indicate that more than 14,000 Marylanders were able to find work between March and April 2015, dropping the overall number of citizens out of work from 167,665 to 153,109. Allegany, Frederick, Garrett and Washington County all improved at least .4 percent over the month-long span, with Garrett County making the most significant jump – going from 7.6 to 5.8 percent unemployment.

Peter Thomas, the executive director of Western Maryland Consortium, said there’s a number of reasons to account for unemployment, including discouraged job searchers, education, and stay at home parents. However, he believes local employment is looking up.

Thomas said the FedEx Ground hub in Hagerstown is preparing to hire 500 new employees within the next six months, adding to a work force of 850.

The unemployment rate for Garrett County, which several years ago was typically among the highest among Maryland’s 23 counties and Baltimore City, is now among the lowest, with the rate for November dropping to 6.2%, which is slightly below the state’s percentage (6.4) and two full points below the national average of 8.2%.

The November 2010 jobless rate for Garrett County was 7.5%, and the year-to-date average percentage is 7.3%. Maryland’s year-to-date average is 7.0%, and the national unemployment rate year-to-date for 2011 is 9.0%.

Thirteen Maryland counties and Baltimore City had rates higher than Garrett County’s for November, including neighboring Allegany County with a rate of 7.5%. Washington County’s rate was 8.2%. Harford County also had a rate of 6.2%, while Worcester County led the state with a jobless rate of 13.7%.More here.

Share ThisJobless rates fell in most U.S. metro areas in July compared to the same month a year ago, according to the latest figures released today from the U.S. Bureau of Labor Statistics.

Unemployment fell in 69 percent of the 372 metros tracked by the BLS. A quarter of metros saw their jobless rates rise year-over-year, while rates remained the same in about 6 percent. The national, nonseasonally-adjusted unemployment rate last month was 9.3 percent, unchanged from June, though up from 8.7 percent in May.

Nearly a third (31 percent) of the tracked metros had unemployment rates of at least 10 percent, while 17 percent had rates below 7 percent.

Midwestern states continued to post the lowest unemployment rates in July. Of the 10 metros with rates below 5 percent, nearly all were in that region. Bismarck and Fargo in North Dakota led with rates at 3 percent and 3.7 percent, respectively.

>Obama administration intends for changes to become industry standard By Inman NewsInman News™

Share ThisLoan servicers collecting payments on FHA-backed loans will be required to allow qualified borrowers who lose their jobs to miss up to 12 months of mortgage payments before initiating foreclosure proceedings against them, the Obama administration announced today.

The FHA’s current three to four months of required unemployment forbearance is “inadequate for the majority of unemployed borrowers,” Housing Secretary Shaun Donovan said in announcing the change.

“Today, 60 percent of the unemployed have been out of work for more than three months and 45 percent have been out of work for more than six,” Donovan said. “Providing the option for a year of forbearance will give struggling homeowners a substantially greater chance of finding employment before they lose their home.”

Although not all borrowers will qualify for the special forbearance program, the administration said it’s removing upfront hurdles to qualification. Servicers must provide any borrowers who are denied forbearance with the reason for denial, and allow the borrower at least seven calendar days to submit additional information that may impact the servicer’s evaluation.

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